CAPITAL MARKETS

Capital Watch: Caspin, Podium and more

This week's capital raisings in the junior space

Staff reporter
Capital Watch: Caspin, Podium and more

Caspin Resources has announced a $3.8 million placement, including a $400,000 contribution from major shareholder Chalice Mining to maintain its 9.2% stake.

The company will seek an additional $1 million via a share purchase plan.

The issue price for the capital raisings is 30c per share, a 26.8% discount to the previous closing price.

The raising was lead managed by Bell Potter Securities.

Podium Minerals has launched a $3 million SPP to fund work at its Parks Reef platinum group metals project.

The issue price is 2.7c per share.

Joint lead managers Bell Potter and Canaccord Genuity will place any shortfall.

Nickel explorer Western Mines Group has raised $2.73 million via Sanlam Private Wealth.

New shares were placed at 34c per share with Equentia Natural Resources participating to maintain its 9% stake.

The funds will be used to accelerate drilling at the Mulga Tank project.

Buxton Resources has launched an SPP to raise up to $2.5 million.

Shareholders can subscribe for up to $30,000 worth of new shares at 16c each, a 19% discount to the five-day VWAP.

White Cliff Minerals has received firm commitments to raise up to $2.325 million via the issue of shares and options to fund rare earths and lithium exploration.

The company will issue 350 million shares at 0.6c each to raise $2.1 million and 175 million free-attaching options and 450 million options at 0.05c each to raise $225,000.

CPS Capital Group was lead manager.

Battery Minerals is seeking to raise up to $2 million to fast-track its gold discovery strategy in Victoria.

A $1.55 million placement was completed to clients of Morgans Corporate and Foster Stockbroking with up to a further $500,000 sought via an SPP.

The issue price will be 0.38c after which the company will pursue a one-for-30 capital consolidation.

Gold explorer Lodestar Minerals has entered into an at-the-market subscription agreement with Acuity Capital for up to $2 million of standby equity over the next 40 months.

Lodestar has discretion over whether to use the facility and can set an issue floor price with the final issue price being calculated at the greater of the floor price and up to a 10% discount of a VWAP over a period of the company's choosing.

Finally, West Wits Mining has raised $1.1 million by placing the shortfall from its recent SPP.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

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